CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Please ensure you fully understand the risks involved. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Please ensure you fully understand the risks involved.

EUR/USD and GBP/USD under pressure, as USD/JPY bounces

Dollar strength has enabled a small recovery in USD/JPY while putting more pressure on EUR/USD and GBP/USD overall.

EUR/USD edges off lower channel bound

EUR/USD remains under pressure overall, firmly within a downward channel although a small bounce off the lows has taken place.

A small recovery would target the highs from last week around $1.18, building on the bounce of support from $1.17.

GBP/USD heading firmly lower

GBP/USD’s signs of a bounce have been negated by the drop below the 200-day simple moving average (SMA), as dollar strength comes into play once again.

Further declines target $1.37 and then $1.36. For the moment, the sellers are firmly in control, with any bounce needing to move back above $1.386 to develop a more bullish view.

USD/JPY bounces from support

USD/JPY has rallied from the broad support zone around ¥109.00, providing hope for bulls that a rebound may develop.

This would target ¥110.60 in the first instance, where gains stalled throughout July and August. For now, the continued defense of ¥109.00 leaves the buyers with the upper hand, but this would begin to change with a drop below ¥108.70.


This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.

Start trading forex today

Trade the largest and most volatile financial market in the world.

  • Spreads start at just 0.6 points on EUR/USD
  • Analyse market movements with our essential selection of charts
  • Speculate from a range of platforms, including on mobile

Live prices on most popular markets

  • Forex
  • Shares
  • Indices
liveprices.javascriptrequired
liveprices.javascriptrequired
liveprices.javascriptrequired

Prices above are subject to our website terms and agreements. All share prices are delayed by at least 20 minutes. Prices are indicative only.

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.